Port of Everett, NorthPoint Development Formalize Partnership to Spur New Economic Opportunity and Jobs
The Port of Everett and NorthPoint Development, LLC have entered into a Memorandum of Understanding, affirming a joint intent to expand existing collaboration efforts to support recruitment of new businesses to NorthPoint properties within the Cascade Industrial Center (CIC), and effectively, grow maritime trade and jobs at the Port.
NorthPoint Development is a privately held, Kansas City based industrial developer that has developed more industrial space than any other single developer in the U.S. over the last five years. The company is currently investing more than a billion private dollars to develop Cascade Business Park – a new 4.1 million square foot light industrial facility for distribution and manufacturing on its 426-acre site situated within the CIC, half of which falls within the City of Arlington and the other half in the City of Marysville.
The partnership with NorthPoint aligns with the Port’s its mission to spur economic development and creation of family-wage jobs in the region, while also providing a strategic nexus to expand maritime cargo opportunities at the Port of Everett Seaport.
"NorthPoint Development is very excited about the Port of Everett Commission's consent to work closely together to attract technologically-oriented business to the Everett area, and specifically, to our Cascade Business Park located in Arlington and Marysville,” said Thane Smith, Director of Development. Western United States for NorthPoint Development. “Given the current land constraints in the Seattle market, coupled with explosive demand, we believe that Cascade Business Park is well positioned to attract the best employers and businesses to the area and provide high quality employment opportunities to the residents in the surrounding communities."
The MOU between the Port and NorthPoint focuses on collaboration of marketing efforts to target key industries that import and export goods, development of recruitment leads, and the participation in a new Center of Excellence for Mechanical Engineering (instrumentation and fabrication), which may include identifying a host site or contributing to the Center’s presence in the CIC.
Both entities will continue to support the successful development of the 4,000-acre Cascade Industrial Center – a Puget Sound Regional Council-designated Manufacturing and Industrial Center located in North Snohomish County. The CIC has approximately 1,700 acres of manufacturing and industrial zoned land currently available for development that both entities will support through joint recruitment efforts, assessment and outreach.
Formal partnership also allows the Port to expand its Foreign Trade Zone beyond its Port District boundaries to create magnet “tax-free” zones within NorthPoint’s development site, providing an attractive business incentive and a recruitment tool to foster new shipping opportunities and cargo diversification efforts at the Port of Everett Seaport.
“NorthPoint is a first-class company and community developer,” Port of Everett CEO Lisa Lefeber said. “We look forward to strengthening our partnership with NorthPoint, and working collaboratively to leverage the valuable investments being made here with the Port’s international Seaport logistics and our unique economic development tools we hold as a Port District, including our FTZ expansion capacity. I look forward to helping bring new jobs and tax base to the County.”
For additional information, contact:
Port of Everett
Public Affairs Manager
Director of Development
About NorthPoint Development
Established 2012, NorthPoint Development is a privately held real estate development firm specializing in the development of Class A Real Estate facilities. Our firm differentiates itself from competitors through a strong engineering, technical, and data driven focus. We employ numerous data scientists, as well as, civil, geotech, electrical, industrial, and computer engineers. Learn more @ www.beyondthecontract.com.
NorthPoint’s Cascade Business Park is represented by KBC Advisors – Matt Wood and Tony Miltenberger, as well as Kidder Mathews for brokerage services – Matthew Henn and Matt Hagen. Learn more @ https://www.northpointcascadebusinesspark.com/
About the Port of Everett
The Port of Everett is a special purpose district tasked with economic development. Through operation of international shipping terminals, the largest public marina on the West Coast and real estate development ventures, the Port of Everett supports nearly 40,000 jobs in the region and contributes $433 million to state and local taxes. The Port strives to bring quality jobs, business, and tourism opportunities to its local and surrounding communities, and is committed to enhancing, restoring and preserving the overall environmental health of the waterfront. Port properties provide numerous public access and recreational opportunities for area residents and visitors to enjoy, supporting a vibrant, livable and balanced waterfront. The Port continues to invest in key strategic Initiatives including Seaport Modernization and Maritime Industrial Expansion to enhance the movement of commerce and grow family-wage jobs at the working waterfront, as well as creating a new waterfront community where people can live, work and play at Waterfront Place and investing in light-industrial opportunities to support new jobs centers in North Snohomish County. Learn more @ www.portofeverett.com.